New York, NY, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Bioethanol Market by Feedstock (Starch-based, Sugar-based, Cellulose-based, and Others), by End-Use Industry (Transportation, Pharmaceuticals, Cosmetics, Alcoholic Beverages, and Others), and by Blend (E5, E10, E15 to E70, and E75 to E85): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017-2024”. According to the report, the global bioethanol market was valued at approximately USD 55.5 billion in 2017 and is expected to generate revenue of around USD 79.6billion by 2024, growing at a CAGR of around 5.3% between 2018 and 2024.
Bioethanol is a colorless liquid with a specific odor. Most people recognize the smell, as it is a spirit or pure alcohol. Bioethanol was previously produced by fermentation and distillation and was based on grain or corn. Currently, bioethanol is generally produced from straw stalks or corn. Bioethanol comprises biological products and combustion of bioethanol results in clean emissions. It is produced from a wide range of vegetable matter, such as forest residue, sugar cane and sugar beet, which makes it a renewable and sustainable fuel source. However, the high cost required for the investment of cellulosic ethanol and issues regarding the use of food crops for fuel production might curb the global bioethanol market in the upcoming years. Furthermore, the development of second and third-generation biofuels is anticipated to offer several growth opportunities to the bioethanol market players in the future. Bioethanol is a substitute for petrol. The manufacturers mainly focus on using agricultural and forest residues apart from energy crops, such as sugarcane bagasse, miscanthus, and switchgrass, for producing bioethanol. All these aforementioned factors are expected to drive the global bioethanol market over the forecast time period.
Browse through 118 Tables & 33 Figures spread over 110 Pages and in-depth TOC on “Global Bioethanol Market: Industry Size, Share, Growth, Trends, Analysis and Forecast, 2017—2024”.
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Rising consumption of alcoholic beverages among youth is expected to drive the market in the future. For instance, events like“Oktoberfest” are likely to spur the demand for alcoholic drinks, which, in turn, is predicted to fuel the bioethanol market in the upcoming years.
By feedstock, the bioethanol market is segmented into sugar-based, cellulose-based,starch-based, and others. Starch-based segment feedstock accounted for a major revenue share in 2017. This feedstock type uses barley, wheat, corn, etc. raw materials as feedstock for bioethanol production. Corn has the highest percentage of starch, around 70-72%. By end-user industry, the market is segmented into pharmaceuticals, transportation, alcoholic beverages, cosmetics, and others. Alcoholic beverages are expected to register the highest growth in the forecast timeframe, due to the rise in the purchasing power of people in emerging countries and the increasing adoption of alcoholic beverages in some cultures. By blend, this market includes E5, E10, E15 to E70, and E75 to E85.E10 segment held the highest market share in 2017. E75 to E85 blend is anticipated to grow at the highest growth rate in the future, due to the increasing number of flexible-fuel vehicles.
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North America registered the highest revenue share in the global bioethanol market in 2017, due to the various strict government regulations addressing ecological concerns. Moreover, rising alcohol consumption in the country and the presence of advanced alcoholic beverage production facilities in the U.S. is set to further drive this market over the estimated timeline. As per the Agricultural and Applied Economics Association, the U.S. produces around 225 million hectoliters of beer. Furthermore, the U.S. federal government has also introduced beer regulations, legalization of brewing at home, and laws for distribution.
Europe held a significant revenue share in the global bioethanol market in 2017. The European Union also achieved its directive target of 5.75% substitution of petrol and diesel fuels with biofuels in 2010, which led to a high demand for biofuels in Europe. Currently, the regional demand is achieved by low-cost Brazilian bioethanol imports and expensive bioethanol and biodiesel production in Europe. Furthermore, a huge focus of non-profit organizations in Europe on bioethanol fuel production is likely to spur this market.
Browse the full "Bioethanol Market by Feedstock (Starch-based, Sugar-based, Cellulose-based, and Others), by End-Use Industry (Transportation, Pharmaceuticals, Cosmetics, Alcoholic Beverages, and Others), and by Blend (E5, E10, E15 to E70, and E75 to E85): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017-2024 " Report At https://www.zionmarketresearch.com/report/bioethanol-market
The Asia Pacific bioethanol market is likely to grow at the fastest rate of growth in the future. Growing demand for alcoholic beverages in India and China is expected to drive the bioethanol market growth in the forecast time period. Over the past few decades, consumer preferences for liquor and beverage consumption in China have changed due to an increase in the per capita income of the population. This is likely to drive this market.
The Latin American bioethanol market is expected to witness significant growth over the forecast time period, due to the rise in tourism activities in Brazil, which, in turn, is predicted to boost the alcoholic beverages demand. This is foreseen to positively impact the regional bioethanol market over the estimated timeframe.
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The Middle East and Africa is expected to grow notably in the upcoming years, due to increased product demand from various end-use industries, such as pharmaceuticals, cosmetics, and transportation.
POET LLC, Archer Daniels Midland Company, Valero Energy Corporation, Green Plains, Abengoa S.A., Flint Hills Resource, Royal Dutch Shell plc, Petrobras, The Andersons, andPacific Ethanol, Inc. are some of the leading players operating in the global bioethanol market.
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This report segments the global bioethanol market as follows:
Global Bioethanol Market: Feedstock Segment Analysis
- Starch-based
- Sugar-based
- Cellulose-based
- Others
Global Bioethanol Market: End-Use Industry Segment Analysis
- Transportation
- Pharmaceuticals
- Cosmetics
- Alcoholic Beverages
- Others
Global Bioethanol Market: Blend Segment Analysis
- E5
- E10
- E15 to E70
- E75 to E85
Global Bioethanol Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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